Cablevision 2014 Annual Report Download - page 123

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COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
(Dollars in thousands, except share and per share amounts)
F-34
Depreciation expense on property, plant and equipment (including capital leases) for the years ended December 31, 2014, 2013
and 2012 amounted to $852,451, $858,899 and $879,242 (including impairment charges of $425, $10,997 and $829 in 2014, 2013
and 2012), respectively.
At December 31, 2014 and 2013, the gross amount of equipment and related accumulated amortization recorded under capital
leases were as follows:
December 31,
2014 2013
Equipment........................................................................................................................................... $ 95,719 $ 65,454
Less accumulated amortization........................................................................................................... (39,951)(31,138)
$ 55,768 $ 34,316
NOTE 7. OPERATING LEASES
The Company leases certain office, production, and transmission facilities under terms of leases expiring at various dates through
2034. The leases generally provide for escalating rentals over the term of the lease plus certain real estate taxes and other costs
or credits. Costs associated with such operating leases are recognized on a straight-line basis over the initial lease term. The
difference between rent expense and rent paid is recorded as deferred rent. In addition, the Company rents space on utility poles
for its operations. The Company's pole rental agreements are for varying terms, and management anticipates renewals as they
expire. Rent expense, including pole rentals, for the years ended December 31, 2014, 2013 and 2012 amounted to $77,769, $75,553
and $78,472, respectively.
The minimum future annual payments for all operating leases (with initial or remaining terms in excess of one year) during the
next five years and thereafter, including pole rentals from January 1, 2015 through December 31, 2019, at rates now in force are
as follows:
2015............................................................................................................................................................................ $ 66,289
2016............................................................................................................................................................................ 70,277
2017............................................................................................................................................................................ 62,511
2018............................................................................................................................................................................ 51,246
2019............................................................................................................................................................................ 37,778
Thereafter................................................................................................................................................................... 168,737